August 5, 2020 8:00am – 11:30am Map & Directions 602-252-4144

Webcast: Required Minimum Distributions: Compliance and Planning (8-11:30)

Online registrations are currently closed, please call (602) 324-6847 for additional registration options

Description

Required minimum distributions (RMDs) from employer retirement plans and IRAs must be made or steep penalties will be incurred. Planning opportunities exist in certain situations to minimize distributions. Also, special rules exist for inherited retirement funds. Your clients depend on you to help them navigate the rules regarding required minimum distributions and the taxation of distributions.

This course addresses compliance issues and planning opportunities regarding required minimum distributions.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

7:30am

Fees

Member:
$160
Non-CPA Staff:
$210
Non-CPA Staff (100% club):
$160
Non-CPA Staff (sole proprietor):
$160
Non-Member:
$210
Webcast
Taxation
4

Objectives

  • Understand the calculation of required minimum distributions.
  • Understand when required minimum distributions are required.
  • Understand how to treat inherited retirement accounts and how to utilize stretch IRAs.
  • Understand the importance of designated beneficiaries of retirement accounts.
  • Discuss the process of requesting the abatement of penalties for failure to make required minimum distributions and how to correct a failure to make a required distribution.
  • Understand how to handle an incorrect Form 1099R.
  • Discuss how distributions are taxed when the retirement account has basis that can be returned free of tax.

Course Level

Intermediate

Vendor

Surgent McCoy CPE, LLC More With This Vendor

Designed For

Any tax practitioner who desires to improve customer service related to required minimum distribution compliance and planning.

Prerequisites

A basic understanding of retirement plan distributions and taxation of distributions.

Event Leaders

Evanich, John L.

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John L. Evanich, Jr., CPA, is a retired tax partner, formerly with CohnReznick, LLP -- the 10th-largest CPA firm in the country. For more than 40 years, Evanich specialized in working with professional service businesses, LLCs, LLPs, and S corporations on tax planning and other tax matters important to them. Evanich has represented taxpayers on hundreds of IRS appeals and court petitions. With over 40 years of experience in public accounting, Evanich is a past president of the Connecticut Society of CPAs (CTCPA), a past member of their Board of Governors, and a former trustee of their Educational Trust Fund. He is also a former member of AICPA Council. Evanich has lectured and written extensively on tax issues, both locally and nationally. He is a member of the American Institute of CPAs. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He has also served as chairman of many CTCPA committees, most notably the Federal Taxation, State Taxation, Public Relations and Technical Consultation Services committees. Evanich has also testified on tax matters of concern to middle- and upper-income taxpayers, as well as small businesses, before the Ways and Means Committee of the U.S. House of Representatives, as well as various Connecticut state legislative committees. Evanich received a bachelor’s degree in accounting with honors from the University of Bridgeport, Connecticut and completed all course work in the Master’s in Taxation program at Pace University in New York City.


More With Evanich, John L.

Highlights

  • Latest guidance issued by the IRS, whether by way of regulations or administrative announcements related to required minimum distributions.
  • The calculation of required minimum distributions using the Uniform Life Table.
  • Required minimum distributions from multiple accounts.
  • Form 1099R and codes.
  • Inherited employer retirement accounts and IRAs: Spousal and non-spousal beneficiary distribution options.
  • Maximizing deferrals through stretch IRAs.
  • Required minimum distributions in the year of death.
  • Roth conversions for estate planning and avoiding required minimum distributions.
  • Timing of distributions for maximum tax-free compounding.
  • Qualified charitable distributions from IRAs.
  • Recent legislative attempts to change RMD age and to eliminate stretch IRAs.
  • Taxation of distributions.
  • Penalties for missed required minimum distributions and reasonable cause for abatement of penalties.

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